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MEX_Exchange

AUDUSD approaching major support, prepare to buy

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal Forex forextrading
10
3
trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal forex forextrading
Buy above 0.7928. Stop loss at 0.7866. Take profit at 0.8049.
Reason for the trading strategy (technically):
Price is now approaching major support at 0.7928 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a strong bounce above this level to push price up to at least 0.8049 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 4.6% and we expect a strong bounce from this level too.
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